02 March 2018

SBI hikes lending rate to 8.15%

SBI hikes lending rate to 8.15%

The State Bank raised its lending rates by 20 basis points to 8(point)15 per cent, with immediate effect, setting the tone for the industry to follow suit. This is likely to make home and car loans costlier.

This is the first lending revision by the bank since April 2016 and comes a day after it massively raised the retail and bulk deposit rates.